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ARTICLE · 11 DECEMBER 2023

New Framework On Financial Services Contracts Concluded At A Distance

Arendt & Medernach
Arendt & Medernach
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Arendt & Medernach

Arendt & Medernach

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On 28 November 2023, Directive (EU) 2023/2673 amending Directive 2011/83/EU as regards financial services contracts concluded at a distance and repealing Directive 2002/65/EC...

European UnionFinance and Banking
Pierre-Michael De Waersegger
Pierre-Michael De Waersegger
Philippe Dupont
Philippe Dupont
Glenn Meyer
Glenn Meyer
Emmanuelle Mousel
Emmanuelle Mousel
Marc Mouton
Marc Mouton
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On 28 November 2023, Directive (EU) 2023/2673 amending Directive 2011/83/EU as regards financial services contracts concluded at a distance and repealing Directive 2002/65/EC, was finally published in the Official Journal of the EU.

1. Background

Directive 2002/65/EC laid down rules at EU level with respect to the distance marketing of consumer financial services. Since its adoption, the EU has introduced several sector-specific pieces of legislation that have led to significant overlaps with Directive 2002/65/EC. Hence, digitalisation and rapid technological developments since then have not only exacerbated these overlaps but also brought new challenges for consumer protection with regard to financial services contracts concluded between a consumer and a trader at a distance.

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